On 31 January 2019, the Global Financial Innovation Network (GFIN) was formally launched by an international group of financial regulators and related organisations committed to supporting financial innovation in the interests of consumers. At the same time, a number of these organisations agreed to open applications for firms interested in joining a pilot cohort for cross-border testing.

This article provides an overview of the FCA’s consultation paper “High-Cost Credit Review: Overdrafts consultation paper and policy statement”, setting out a timeline on how the FCA is taking this matter forward, and recommendations on what action an overdraft provider could consider taking in light of the CP’s contents.

Simmons & Simmons FinTech Fund

Our FinTech Fund, launched in 2016, was the first of its kind in the UK designed to support entrepreneurs throughout their journey building tomorrow’s world leading FinTech businesses and non-profit organisations.